Online Casino Transfer: News - Ireland Looks for More Taxes

05/26/2010		Online Casino Style: News Ireland looks for More Taxes
Home History Games News Dictionary		Some additional changes seem to be imminent for the future of online gambling in Ireland, as the Irish Taoiseach (the government’s first minister) announced their intent to launch another campaign that would levy taxes on the internet gambling industry. Brian Cowen made the announcement at the Irish Farm Center on last Thursday night, confirming the government’s intention to introduce a bill that will effectively regulate offshore internet casino companies, setting the stage for a more comprehensive licensing platform. According to Cowen’s statement, the new regulations will be designed with offshore online gambling companies specifically in mind, developing a licensing program that will allow them to legally gain permission to offer their betting services to Irish residents. Of course the upside for the government will be the taxes that come with those permissions, which apparently will extend not only to internet casinos, but to all betting services available in Ireland, including telephone wagering. Some of the funds will be filtered back through to benefit the racing industry. Cowen’s plan is still yet to be seen, with many online gambling analysts resisting judgment thus far, but it has been well received by the HRI chief executive, Brian Kavanagh, who went on record saying, “This announcement maps out a solution to the questions surrounding the funding of the racing industry which has been of concern for some time.” It’s a critical time for the Irish economy as a whole, as reductions in the government subsidiaries available have resulting in significant job losses across the nation. “We have consistently said that its funding should be fully provided for through the duty on betting - a position which existed until returns to the Exchequer fell by almost half in the face of competitive pressure from un-taxed betting,” said Kavanagh, looking to the Taoiseach’s plan to restore some balance to the funding mechanisms.

05/26/2010

Online Casino Style: News
Ireland looks for More Taxes

Some additional changes seem to be imminent for the future of online gambling in Ireland, as the Irish Taoiseach (the government’s first minister) announced their intent to launch another campaign that would levy taxes on the internet gambling industry. Brian Cowen made the announcement at the Irish Farm Center on last Thursday night, confirming the government’s intention to introduce a bill that will effectively regulate offshore internet casino companies, setting the stage for a more comprehensive licensing platform.

According to Cowen’s statement, the new regulations will be designed with offshore online gambling companies specifically in mind, developing a licensing program that will allow them to legally gain permission to offer their betting services to Irish residents. Of course the upside for the government will be the taxes that come with those permissions, which apparently will extend not only to internet casinos, but to all betting services available in Ireland, including telephone wagering. Some of the funds will be filtered back through to benefit the racing industry.

Cowen’s plan is still yet to be seen, with many online gambling analysts resisting judgment thus far, but it has been well received by the HRI chief executive, Brian Kavanagh, who went on record saying, “This announcement maps out a solution to the questions surrounding the funding of the racing industry which has been of concern for some time.”

It’s a critical time for the Irish economy as a whole, as reductions in the government subsidiaries available have resulting in significant job losses across the nation. “We have consistently said that its funding should be fully provided for through the duty on betting - a position which existed until returns to the Exchequer fell by almost half in the face of competitive pressure from un-taxed betting,” said Kavanagh, looking to the Taoiseach’s plan to restore some balance to the funding mechanisms.